Monday, 2 July

Official papers show the Government's not made the money it thought it would from raising tobacco taxes. Just released Treasury documents show the Government was warned not to overestimate tobacco revenue before it decided to introduce further excise increase on tobacco in May's Budget. Analysis of the impact of tobacco tax hikes from the previous three years show that in 2011 the Government didn't get the extra $130 million in tobacco revenue it had expected.

Photo by Thinkstock Jul 2, 2012